Sompo Global Risk Solutions has expanded its operations in Europe. Bold Penguin, an InsurTech commercial insurance technology provider, partnered with ZenBusiness, an online platform that helps small businesses start, run and grow.
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Sompo Global Risk Solutions formed a new team, Sompo GRS Europe, based in London to serve the European market through retail brokers.
The introduction of Sompo GRS in Europe builds on Sompo International’s existing London Market and SIIE European platform business and drives the further development of its “one company” platform in the region, the company said.
In serving GRS clients by extending the geographic reach of the unit’s comprehensive approach to risk management, Sompo GRS Europe will offer commercial property, primary and excess casualty, and environmental coverage, as well as parametric natural catastrophe products.
Led by Adam Bergen, Vice President, Sompo GRS Head of Europe, who will be based in Sompo International’s London office, the new team will target accounts in select industries and the unit will encompass dedicated teams of underwriting, actuarial, claims and risk control specialists – focused on serving Sompo GRS clients in the financial institutions, hospitality, life sciences, professional services, real estate and technology industries across the region.
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Bold Penguin, an InsurTech commercial insurance technology provider, partnered with ZenBusiness, an online platform that helps small businesses start, run and grow.
Through this digital collaboration, small and medium sized business creating and managing their businesses through ZenBusiness’s platform will now have direct access to obtaining commercial insurance through Bold Penguin’s platform. It ties two crucial pieces of the business formation process together – becoming licensed and getting insured.
For Bold Penguin, this partnership expands its reach across the SMB market to customers who may not be looking for insurance as a primary need, but realize they have a secondary need once their business formation is complete. ZenBusiness works primarily with new entrepreneurs who do not yet have insurance, so connecting SMBs with Bold Penguin’s prospect exchange will help them quickly and easily begin the commercial insurance process, according to their joint announcement.
Sources: Sompo GRS, Bold Penguin